Hollywood Bowl enjoyed a successful end to the 20117/18 financial year with revenues swelled by the continuation of a considerable expansion strategy.
Britain’s largest ten pin bowling operator Hollywood Bowl saw considerable revenue growth in the six months to 31 March as the company’s organic growth strategy continues to pay dividends.
Total revenues grew by 9.3 percent in the period whilst like-for-like revenues increased four percent.
In the second half of the financial year the company rolled out two new centres in Dagenham and Yeovil as part of its portfolio expansion drive which has now swelled its premises count to 59.
Stephen Burns, CEO, said: “We are pleased with our half year performance, with results in line with our expectations.
“The group had another very successful Christmas, delivering like-for-like sales growth for the sixth consecutive year over this important trading period.
“Our teams are focused on maximising the opportunities created by our ongoing refurbishment and new centre programme in the second half of the year and continuing to deliver great value experiences for our customers across our estate.”
Alongside new premises openings the company, which was formed in 2010, refurbished existing centres in Bradford, Birmingham and Dunfermline and additionally secured deals to open in Swindon and Southend.
And the figures were well received by the market. “Hollywood Bowl has issued an encouraging half year trading update with strong revenue growth and a further strengthening of its site pipeline,” commented Greg Johnson, research analyst at Shore Capital. “Hollywood Bowl is an exceptionally well-run business in an attractive space of the UK consumer market.”
This period of expansion follows a realignment of the bowling experience at the company’s premises where strong investment in broad machine estates and high-quality amenities has boosted consumer spend away from the core game.